To get a loan in the UAE, an individual must qualify the basic eligibility criteria. This includes the minimum salary requirement as set by the bank, your residency status and who your employer is.
The repayment period for personal loans is 48 months
Yes, most banks allow you to repay your personal loans with an early settlement fee
No, there is no requirement to have your account with the same bank you borrow your loan from however incase salary transfer is required for loans then you will be required to open a bank account with the lender.
No, you do not need to provide any collateral. Although by providing a deposit as a guarantee you can get better terms.
Yes, monthly salary transfer is mandatory while applying for personal loan
Passport copy,labour card or government issued ID card copy, emirates ID copy, salary certificate, salary transfer letter (optional), three to six months of bank statements.